CIB PROPERTIES LIMITED
Company number: 01915885
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
16 July 2020
Approved by:
Jeremy Smith
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 58%
- in 31 to 60 days: 33%
- in 61 days or more: 9%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 11%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
60 calendar days
Were there any changes to the standard payment terms in the reporting period?
45 days and immediate
Were suppliers notified or consulted about these changes before they were made?
Disputes related to payments will be considered through Citi Business Units and Enterprise Supply Chain Payables Customer Services
Maximum contractual payment period agreed
60 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
Suppliers address their questions or requests to their Citi Business contacts and the Business unit informs the Enterprise Supply Chain Payables Customer Service team asking for advice or resolution. Suppliers do have the opportunity to directly engage with the Customer Service team, in this case the team involves the related Citi Business to ensure full transparency.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
No, this business has not signed up to a code of conduct or standards on payment practices.
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No